One of the objectives in elevator development has been to achieve an efficient and economic space utilization. In conventional traction sheave driven elevators, the elevator machine room or other space for the drive machinery takes up a considerable part of the building space required for the elevator. The problem is not only the volume of the space required by the elevator, but also its placement in the building. There are various solutions for the placement of the machine room, but they generally involve signifcant restrictions as to the design of the building at least with regard to space utilization or appearance. For example, in the case of a so-called side-drive elevator with machine room below, a machine room or space is required below or beside the shaft, generally on the bottommost floor of the elevator system. Being a special space, the machine room generally increases the building costs.